Fifteen fintechs have secured funding to develop innovative solutions that use open banking to transform how the nation manages its finances. The 15 finalists' ideas offer a range of services, from a digital debt adviser and a personal finance chatbot, to a solution that prevents people from going into their overdrafts, a fraud prevention tool, and even a tool to make it easier to get a mortgage. An AI assistant with a sense of humour which helps Gen Z/ Millennials budget, save and track their spending. "We are delighted to be finalists in the Open Up 2020 Challenge. Cleo is here to make money management less elitist, more accessible and informative – transforming the'money thing' into something radically different. Financial advice and education is missing from retail banking, and from Government. Our aim is to give people the confidence to discuss their finances the same way they share gym habits or how they have their coffee, and we know when we have won when it's finally normal to talk about money."
Nov-13-2019, 09:30:18 GMT